Joint Capital Development Acquires Multifamily Asset At 295 Clifton Place From Eduardo Vargas For $2M

This multifamily asset located at 295 Clifton Place in Brooklyn has been sold for $2,000,000. The property consists of 3 units, spanning a total square footage of 3,520, which translates to a price per unit of $666,666 and a price per square foot of $568.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,000,000
• Buyer: Joint Capital Development
• Seller: Eduardo Vargas
• Broker: Sixx Lee - Moving Keyz Realty
• Units: 3
• Square Footage: 3,520
• Price Per Unit: $666,666
• Price Per Square Foot: $568

Sixx Lee from Moving Keyz Realty represented the sale. The deal involves a 10 unit condo project that is currently under construction, with plans to complete 10 condominiums by 2026. The condominiums will range from one to three bedrooms, including a penthouse and a ground level duplex, pricing an average of about $1,200 per square foot.